Why Saudi Arabia is building a new city in the desert
Update: 2024-02-08
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Description
For decades, Saudi Arabia's economy has been defined by its abundant oil reserves. Its ability to influence global oil supply propelled Saudi Arabia to one of the richest countries in the world. The Saudi royal family became important players on the world stage. However, waning dominance in the oil market is forcing the Saudi government to think differently about its reliance on the commodity.
Today on the show, we explain Saudi Arabia's fantastical vision for its future and how the government is using its present influence in the oil market to fund it.
Related episodes:
Why oil in Guyana could be a curse
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Today on the show, we explain Saudi Arabia's fantastical vision for its future and how the government is using its present influence in the oil market to fund it.
Related episodes:
Why oil in Guyana could be a curse
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
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In Channel
Couple of points. 1. MBS didn't agree to sport washing accusations. He clearly said, if you named as such then it is fine as long as it adds to GDPπ 2. No normalization with Israel. This week announcement is as clear as Neom shoresπ. We talk when Un resolutions are implemented based on '67 boarders. Final thought, US politicians push when their accounts are going down. We have seen change of harts when they are seeing benefits in Saudi Arabia. Seems that they haven't yet.